Brazil’s real slid for a fourth straight day and fell to a new 12-yearlow as a bigger-than-forecast drop in industrial production added to concern the nation is facing its longest economic contraction since the 1930s.
The real declined 0.3 percent to 3.7111 per dollar Wednesday as of 10:08 a.m. in Sao Paulo, the weakest level since December 2002. The average directional index, a gauge of momentum, increased to 47, above the level of 32 that some traders interpret as a sign that a trend is strengthening.
Brazil Energy Insight 
Leave a comment